Truist Financial Corp Has $527,000 Position in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)

Truist Financial Corp grew its position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) by 180.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,784 shares of the company’s stock after buying an additional 22,366 shares during the period. Truist Financial Corp owned approximately 0.19% of Chicago Atlantic Real Estate Finance worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of REFI. Bank of New York Mellon Corp grew its holdings in shares of Chicago Atlantic Real Estate Finance by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,528 shares of the company’s stock worth $267,000 after purchasing an additional 739 shares in the last quarter. Lindbrook Capital LLC increased its position in Chicago Atlantic Real Estate Finance by 51.7% during the 2nd quarter. Lindbrook Capital LLC now owns 2,200 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares in the last quarter. Deutsche Bank AG lifted its stake in Chicago Atlantic Real Estate Finance by 2.6% in the 1st quarter. Deutsche Bank AG now owns 32,494 shares of the company’s stock valued at $439,000 after purchasing an additional 812 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Chicago Atlantic Real Estate Finance by 30.5% in the second quarter. JPMorgan Chase & Co. now owns 3,667 shares of the company’s stock valued at $55,000 after buying an additional 857 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Chicago Atlantic Real Estate Finance by 17.3% during the fourth quarter. Bank of America Corp DE now owns 6,839 shares of the company’s stock worth $103,000 after buying an additional 1,009 shares during the last quarter. Institutional investors and hedge funds own 25.73% of the company’s stock.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of NASDAQ:REFI opened at $15.16 on Friday. Chicago Atlantic Real Estate Finance, Inc. has a 52-week low of $12.91 and a 52-week high of $16.50. The business’s 50 day simple moving average is $14.85 and its two-hundred day simple moving average is $14.89. The firm has a market cap of $275.46 million, a P/E ratio of 7.47 and a beta of 0.08.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). The company had revenue of $14.66 million for the quarter, compared to analyst estimates of $15.78 million. Chicago Atlantic Real Estate Finance had a net margin of 61.75% and a return on equity of 14.02%. During the same quarter last year, the firm posted $0.50 EPS. On average, equities analysts forecast that Chicago Atlantic Real Estate Finance, Inc. will post 2.21 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date was Thursday, September 28th. Chicago Atlantic Real Estate Finance’s payout ratio is currently 92.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on REFI. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Chicago Atlantic Real Estate Finance in a report on Tuesday, August 15th. Piper Sandler started coverage on Chicago Atlantic Real Estate Finance in a report on Friday, September 1st. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, Compass Point lowered shares of Chicago Atlantic Real Estate Finance from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Tuesday, September 5th.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators in the cannabis industry.